United Protection Security, a company based in Canada and traded on the Toronto Stock Exchange, reports that its fiscal year 2007 results were very strong.
The company reported revenues up almost $7 million from the previous year ($15.7 million in 2006, almost $22.5 million in 2007), with gross profit increases as well. The company saw a turn to profitability, with net income seeing over a $1 million swing from loss to profit.
United Protection Security offers security officer/guard services, as well as video monitoring, loss prevention staffing, alarm response, K-9 patrols and special services for strikes and protection at remote sites. The company's efforts have largely been in Western Canada; it is based in Calgary.
DD Mercantile, a financing firm that has been involved with the company both in promotion and investment, issued a statement describing United Protection Security's move toward profitability:
"The current climate for aggressive growth in the private security industry, not only in Canada and the United States, but world-wide, is extremely favorable," wrote Dave Doherty, president of DD Mercantile Corporation. "United is well positioned to capitalize on middle market opportunities. Priorities now are to continue to grow organically while at the same time adding accretive acquisitions to the revenue base and to move the Company to its next level among the ranks of the major players in the industry. They have the management team, infrastructure, access to the financial resources and a very strong supportive Board of Directors that will enable them to take advantage of existing and potential strategic opportunities consistent with their vision and business plan."
United Protection Security is online at www.unitedprotection.com